The cryptocurrency community’s favorite Dogecoin is trading in the $43 billion DOGE price cluster. Based on on-chain data, this concentration indicates that a large number of addresses are holding DOGE within a narrow price range. Will price overcome resistance or break out is the question we are asking right now.
Thirteen point seven thousand addresses are currently in the red or holding DOGE at breakeven prices between zero and eleven dollars, according to active addresses in the profitability data. Given the large volume of DOGE in this range, it is important to note that holders of this cryptocurrency will likely react to price changes by pushing the market up or down.
Only 13.31% of price-based addresses are outperforming or profitable at the current price of around $0.109. From a technical perspective, DOGE has seen volatility in recent months. The daily price chart shows that DOGE is currently trading below the long-term moving averages – 100 EMA and 200 EMA – which often signals bearish sentiment.
However, the price is consolidating around the 200 EMA, which could either act as strong resistance or trigger a potential breakout if momentum strengthens. A relative strength index around 50 indicates neutral dynamics. If DOGE can break through key resistance levels, especially $0.120, it could spark a rally. On the other hand, if sellers take control of the situation, a retest of the $0.09 level is possible.
On the other hand, 17.79% of addresses are out of the money or holding DOGE in the red, creating potential resistance as these holders could sell once the price recovers. With 69 percent of all addresses breaking even, this cluster plays a key role in short-term price direction.
